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    Tata Motors shares rise 2% after Delhi approves induction of 1,500 e-buses

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    Tata Motors shares rise 2% after Delhi approves induction of 1,500 e-buses

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    Tata Motors share price: Shares of Tata Motors rose as much as 2 percent after the Delhi government approved the induction of 1,500 electric buses from the automaker. Buses are to be supplied through the recent CESL tender for buses which was awarded to Tata Motors, CNBC-TV18 reported.

    Shares of Tata Motors rose as much as 2 percent after the Delhi government approved the induction of 1,500 electric buses from the automaker for the Delhi Transport Corporation’s (DTC's) fleet.
    At 10:25 IST, shares of the automaker were trading 0.4 percent higher at Rs 418.65 on the BSE.
    Each of these buses is expected to save 0.33 million tonnes of PM 2.5 and PM 10 in carbon emissions during their life span of 10 years.
    The buses are to be supplied through the recent CESL (Convergence Energy Services Limited) tender for buses that was awarded to Tata Motors, CNBC-TV18 reported. The report also added that the Delhi Cabinet had also approved the induction of 450 other CNG buses.
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    Besides, the news is that the Delhi Cabinet has approved the procurement of 1,950 new electric buses.
    Out of 1,950 new bus procurement, 1,500 will be electric buses and the first lot of buses will arrive in August, reported CNBC-TV18.
    The Delhi government will replace 99 percent of its bus fleet of 3,760 buses by September 2025, the report said. The Delhi government will soon issue tenders to buy 4,880 more buses, it added.
    The companies that could benefit are Eicher Motors, Ashok Leyland, and Olectra Greentech.
    Shares of Eicher Motors were down 1 percent and those of Olectra Greentech were down 1 percent. Ashok Leyland's stock was up 0.5 percent.
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